517 N. Prospect St - Apartments FOR SALE


Indianapolis, IN 46203
$750,000 USD
463-238-4726
517 N. Prospect St, Indianapolis, IN for Sale
$750,000 USD
Apartments - FOR SALE
1/4
null | 8% Cap Rate

517 N. Prospect St
Indianapolis, IN 46203


HIGHLIGHTS

  • Proximity to Major Employers: Eli Lilly, IU Health, and numerous corporate offices are within walking distance, ensuring a steady stream of high-quali
  • Downtown Conveniences: Walkable access to dining, entertainment, and cultural events in Indianapolis’s thriving downtown.
  • Enduring Cash Flow: With premium rental rates and high demand, this asset is set to deliver reliable returns for years.
  • Market Versatility: Dual-income opportunities—long-term leases and short-term rentals—maximize your investment’s earning potential.
  • Pre-Permitted & Ready to Build: Save time and resources with plans and permits in place. Investors can break ground immediately, accelerating the path

OVERVIEW

Investment Opportunity: High-End Downtown Indianapolis Duplex Here’s your chance to own a pre-permitted and fully designed high-end duplex in the heart of downtown Indianapolis, allowing you to break ground immediately upon closing. With everything ready to go, this property is a rare turnkey opportunity for investors seeking to maximize returns in a prime urban market. This premium duplex offers 3 bedrooms, 3 bathrooms, a basement, and a luxurious living space on the top floor in each unit. Located just steps away from Eli Lilly's headquarters—a Fortune 50 company—and within close proximity to Indianapolis’s downtown attractions, this property is designed with the end user in mind, making it a lucrative asset for decades to come. Key Features: Pre-Permitted & Ready to Build: Save time and resources with plans and permits in place. Investors can break ground immediately, accelerating the path to generating rental income. Prime Location: Just a stone’s throw from Eli Lilly, IU Health campuses, and downtown Indianapolis, providing unmatched access to major employers and amenities. Luxury Design: High-end finishes and thoughtfully crafted layouts cater to professionals, executives, and discerning tenants. Rental Potential: Lease both units for $3,000+ per month to Eli Lilly scientists, executives, or other professionals in this thriving urban hub. Short-Term Rental Option: One unit can easily be furnished for short-term rentals to capitalize on Indianapolis's vibrant events calendar, including sports games, concerts, conventions, and more. Why Invest: Turnkey Opportunity: With all designs and permits in place, investors can hit the ground running and start construction immediately. High Demand Area: Downtown Indianapolis is experiencing rapid growth, with premium rental demand fueled by corporate and healthcare professionals. Dual-Income Potential: Flexibility to choose between long-term tenants or lucrative short-term rentals to optimize cash flow. Premium Location: Walking distance to dining, entertainment, and cultural attractions in downtown Indy. This ready-to-build investment offers a unique opportunity to own a trophy asset in one of the Midwest’s most dynamic urban markets. Whether you’re building your portfolio or seeking a property with unmatched income potential, this duplex is the perfect fit. Contact us today for more details and to secure this exceptional investment!

FOR SALE DETAILS

PRICE

$750,000 USD

PRICE/SF

$301 USD /SF

# OF UNITS

2

PRICE/UNIT

$375,000

CAP RATE

8%

% LEASED

0%

STATUS

Proposed

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

[2025] Duplex, overlooking Eli-Lilly World HQ

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,695 SF

ZONING

D8

APN/PARCEL ID

49-11-12-101-010.000-101

ASK ABOUT THIS PROPERTY

Josh HodgesParadigm Construction & Development, LLCMore Info
463-238-4726

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Josh HodgesParadigm Construction & Development, LLCMore Info
463-238-4726

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.